MARKET WRAP: Sensex slips 106 pts, Nifty ends at 12,175; financials decline

Topics Markets | MARKET WRAP

Benchmark indices snapped two days of gain and inched lower on Thursday as investors reassessed the scope of the coronavirus outbreak after China's Hubei province reported a record rise in the death toll. A surprise drop in industrial output for December and a rise in January inflation to a six-year high also dampened sentiment.

The S&P BSE Sensex dipped 106 points, or 0.26 per cent, to 41,460 levels. IndusInd Bank (down 3.5 per cent), Tata Steel (down nearly 2 per cent), and ONGC (down around 2 per cent) were the top laggards in the Sensex pack. On the other hand, Titan (up over 2 per cent), SBI (up over 2 per cent) and Infosys (up around 1.5 per cent) gained the most.

The broader Nifty50 index gave up the 12,200 mark to settle at 12,175, down 27 points, or 0.22 per cent.

Sectorally, Nifty Private Bank index fell around 1.4 per cent to 17,083 levels. Nifty Bank slid 0.8 per cent to 31,230 points. On the upside, pharma and IT stocks advanced the most. 

In the broader market, the S&P BSE MidCap slipped 23 points, or 0.15 per cent, to 15,766 and the S&P BSE SmallCap index ended at 14,727, down 0.03 per cent. 

GLOBAL MARKETS

In broader Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan was trading flat. China’s Hubei province reported 242 new deaths and 14,840 new cases as of Wednesday.

Oil prices were mixed on Thursday as concerns about falling demand caused by travel restrictions tied to the coronavirus outbreak in China, the world’s biggest oil importer, outweighed expectations of supply cuts from major producers.

Brent crude fell 6 cents, or 0.1 per cent, to $55.73 per barrel at 0735 GMT. US West Texas Intermediate (WTI) was up 5 cents, or 0.1 per cent, to $51.22 a barrel. Brent rose 3.2 per cent on Wednesday while WTI gained 2.5 per cent as a slowdown in new Chinese coronavirus cases boosted expectations of a demand recovery.

(With inputs from Reuters)

3:40 PM IST

3:40 PM IST

3:37 PM IST The S&P BSE Sensex slipped 106 points or 0.26 per cent to settle at 41,460 levels while the NSE's Nifty50 ended at 12,175-mark, down 27 points or 0.22 per cent. 

3:25 PM IST We retain our Buy recommendation and target price of Rs 175 based on 7x FY22e EV/EBITDA. Further, capex tapering since HCG enters a consolidation phase would result in debt reduction from FY21. Risks: Price cap by government on oncology treatment, delay in ramping up new centres.

3:11 PM IST -- Revenue up 11.5 per cent at Rs 2,696.3 cr -- Ebitda at Rs 158.6 cr -- Ebitda margin at 5.9%

3:08 PM IST

3:00 PM IST

2:57 PM IST

2:49 PM IST

2:43 PM IST >> The Existing Shareholders currently holds 29.91% of the voting equity shareholding in DFL >> The existing Shareholders will be exiting DFL pursuant to the share purchase agreement executed amongst the Sellers, DFL and the Investor (“SPA”). >> The Company’s shareholding in DFL will not undergo any change pursuant to the transaction Alert: United Farmers Investment is a subsidiary of Saudi Agricultural & Livestock Investment Company

2:38 PM IST With its Q3 FY20 revenue growing 19% to `2bn, Neuland posted a strong recovery in its financial performance. The CMS division continues to be the leading growth driver; besides, the contribution from prime molecules was quite significant (51% of sales, 46% a year ago). On the better product mix and cost-optimisation measures, the EBITDA margin expanded 451bps y/y to 13.8%. The better operating performance helped PAT grow 137% y/y to `111m. We roll over to FY22e and expect momentum in CMS and specialty molecules to help Neuland post revenue/EBITDA/PAT CAGRs of 14%/34%/58% over FY19-22. We maintain our Buy recommendation and target of `644, based on 13x FY22e EPS.

2:24 PM IST

LIVE UPDATES

SECTOR WATCH | Gainers and losers on the NSE


MARKET AT CLOSE | Top gainers and losers on the S&P BSE Sensex


CLOSING BELL

The S&P BSE Sensex slipped 106 points or 0.26 per cent to settle at 41,460 levels while the NSE's Nifty50 ended at 12,175-mark, down 27 points or 0.22 per cent. 

BROKERAGE RADAR | Anand Rathi Shares on HealthCare Global Enterprises

We retain our Buy recommendation and target price of Rs 175 based on 7x FY22e EV/EBITDA. Further, capex tapering since HCG enters a consolidation phase would result in debt reduction from FY21.

Risks: Price cap by government on oncology treatment, delay in ramping up new centres.

RESULTS CORNER:: Godrej Industries Q3 consolidated net profit up 29.2% at Rs 156.7 cr

-- Revenue up 11.5 per cent at Rs 2,696.3 cr

-- Ebitda at Rs 158.6 cr

-- Ebitda margin at 5.9%

SECTOR WATCH:: Nifty IT index off day's lows


BUZZING STOCK:: IRCON International up 4%


IndusInd Bank at day's low, slips 4%


Market check | Sensex pares losses partially


NEWS ALERT | United Farmers Investment to acquire entire stake held by India Agri Business Fund and Real Trust : BSE filing

>> The Existing Shareholders currently holds 29.91% of the voting equity shareholding in DFL

>> The existing Shareholders will be exiting DFL pursuant to the share purchase agreement executed amongst the Sellers, DFL and the Investor (“SPA”).

>> The Company’s shareholding in DFL will not undergo any change pursuant to the transaction

Alert: United Farmers Investment is a subsidiary of Saudi Agricultural & Livestock Investment Company


BROKERAGE RADAR :: Motilal Oswal Financial Services on Neuland Labs

With its Q3 FY20 revenue growing 19% to `2bn, Neuland posted a strong recovery in its financial performance. The CMS division continues to be the leading growth driver; besides, the contribution from prime molecules was quite significant (51% of sales, 46% a year ago). On the better product mix and cost-optimisation measures, the EBITDA margin expanded 451bps y/y to 13.8%. The better operating performance helped PAT grow 137% y/y to `111m. We roll over to FY22e and expect momentum in CMS and specialty molecules to help Neuland post revenue/EBITDA/PAT CAGRs of 14%/34%/58% over FY19-22. We maintain our Buy recommendation and target of `644, based on 13x FY22e EPS.

Pharma stocks trade higher; Dr Reddy's, Divis Labs top gainers


Rupee check


RESULTS CORNER:: Gillette India Q3 net profit up 31.6% at Rs 71.1 cr

-- Revenue down 3.4% at Rs 459.3 cr
 
-- Ebitda up 2% at Rs 99.6 cr
 

Trump's US delegation to have 15 CEOs; business talks likely on February 25

A trade deal is not the only part of US President Donald Trump’s visit that is shrouded in mystery. With just about 10 days to go before Air Force One lands at Ahmedabad airport for a Howdy Modi-like show that had wowed Houston and then flies Trump and his team to New Delhi for a round of hard talk, even the list of business delegation accompanying Trump has been kept under wraps. READ MORE

NEWS ALERT | Govt considering import restrictions on televisions: sources to CNBC TV18

>> MeitY, Commerce Min mull putting TV under "restricted" list

>> Commerce Min believes TV imports are "non-essential" 

>> FY19 saw $1 billion TV imports from Vietnam and China

Alert: Imports under restricted list need licence from DGFT

SpiceJet hits 52-week low ahead of Q3 result due tomorrow


Index Contributors at this hour


India's IT giants see product-led growth strategy as next big opportunity

In a fireside chat organised by Nasscom as part of its flagship annual IT event, TCS Chief Executive Officer (CEO) and Managing Director (MD) Rajesh Gopinathan, Infosys CEO and MD Salil Parekh, and Wipro Chairman Rishad Premji agreed that while times for the predominantly export-driven IT industry continued to remain challenging, domestic players operating in the space were going to put a major focus on product-led growth strategy. READ MORE

Telecom dept may send AGR demand letters to Airtel, Voda-Idea next week

The Department of Telecommunications (DoT) plans to send out letters to Bharti Airtel and Vodafone Idea, seeking payment of dues, if the industry’s modification plea on the adjusted gross revenue (AGR) issue is not taken up by the Supreme Court this week. The expectation is that at least the first tranche of the total estimated dues of Rs 1.47 trillion should be paid immediately, based on a self-assessment method. READ MORE 
COMPANY NAME LATEST HIGH LOW CHG
(rs)
CHG(%) VALUE
(rs CR)
VODAFONE IDEA 4.52 4.54 4.41 0.01 0.22 2.50
TATA TELE. MAH. 3.76 3.98 3.33 0.07 1.90 0.37
REL. COMM. 0.70 0.71 0.70 -0.02 -2.78 0.03
BHARTI AIRTEL 533.00 545.00 532.85 -6.55 -1.21 3.03
M T N L 10.32 10.61 10.25 -0.20 -1.90 0.04

Should you invest your savings in banking and PSU funds?

Banking and PSU funds have given a return of 10.92 per cent over the past year. They invest mostly in bank certificates of deposit and bonds of public sector companies. These funds are much in demand currently because investors have been worried about credit risk for the past year or so. READ MORE

SECTOR WATCH:: Public sector banks trade higher in a weak market

COMPANY NAME LATEST HIGH CHG(%)
ST BK OF INDIA 329.30 330.85 2.91
UNION BANK (I) 48.45 49.40 -0.72
BANK OF INDIA 63.25 63.85 -0.32
PUNJAB NATL.BANK 55.65 56.20 0.27
BANK OF BARODA 88.65 91.20 0.51
Click here for the full list

MARKET CHECK:: Sensex falls 200 pts


How to invest in an insurance plan and avoid mis-selling

I want to invest my savings in an insurance plan but am afraid of mis-selling. How can I identify and avoid this? To ensure that customers’ interests are well protected, the regulator has laid out stringent guidelines and processes regarding how insurance products are sold. Here are some quick checks you can run. READ MORE

Budget impact: Shares with DVRs underperform after DDT removal

Shares with differential voting rights (DVRs) have underperformed the broader market since the Union Budget 2020-2021 was presented on February 1. The median loss for such securities after the Budget is 4.5 per cent, compared to a 2.1 per cent gain in the benchmark S&P BSE Sensex. The companies with DVRs include Tata Motors, Future Enterprises, Jain Irrigation Systems and Stampede Capital. The DVRs have also underperformed the ordinary shares of the companies, which are down 3.6 per cent on a median basis. READ MORE

Market check


Natco Pharma declines 5%


Nifty slips below 12,150


HUL to Relaxo Footwears: Analysts upbeat on consumption-related stocks

Caught midst a lack-of-demand-driven slowdown, consumption stocks have had a bumpy ride thus far in calendar year 2020 (CY2020). In the run-up to the Union Budget for 2020-21, stocks such as Avenue Supermarts, Bharti Airtel, Crompton Greaves Consumer Electricals, Relaxo Footwears, Dabur, and Hindustan Unilever (HUL) rallied between 7 and 20 per cent on hopes of a stimulus package to spur demand. READ MORE

NEWS ALERT | Avenue Supermart's announcement for OFS likely today: CNBC TV18

-- Avenue Supermarts' OFS to open for HNIs and institutional investors on February 14

-- OFS to open for retail on Monday, February 17

HUL braves slowdown, premium valuation to sustain on Street's thumbs up

Its current market capitalisation is close to the Rs 5-trillion mark. What is making the stock tick is the expectation of healthy profitable growth despite a large base, and strong return ratios. READ MORE  


Nifty sectoral indices at this hour


Want to start trading as a beginner? Learn these Candlestick patterns

As a beginner in stock market, one should always look for trades that can give a decent return with limited risk. The price itself denotes the basic movement, which can be analysed basis the structure and formation of the candlestick on the technical charts. A Candlestick demonstrates high, low, open and close prices of the instrument / stock or an index. It defines the price movement and depending on the formation, one can determine the current sentiment and predict a trend. READ MORE  


BROKERAGE RADAR | Geojit Financial Servives on HPCL

Marginal declines in Fuel oil and LPG cracks during the quarter affected the topline. Also, industry demand was impacted by Coronavirus outbreak and consequently led to increased volatility in oil prices. However, we expect market conditions to improve owing to IMO regulations. We estimate company’s earnings to grow at healthy 21.8% CAGR over FY20-22E supported by ongoing capacity expansion and expected improvements in GRMs and reiterate our BUY rating on the stock with a revised target price of Rs. 289 using SOTP methodology.

CARE Ratings drops 8% as Chairman Mainak steps down after forensic probe

CARE Ratings slipped nearly 8 per cent on Thursday, after reports suggested that S B Mainak, chairman, CARE Ratings has tendered his resignation. Market regulator Securities and Exchange Board of India (Sebi) is said to have nudged the rating agency to remove Mainak after adverse findings against him in a forensic report. READ MORE  


BROKERAGE RADAR | Momentum picks by ICICI Securities


BROKERAGE RADAR | Edelweiss Securities on ABB India

While robotics & motion is gaining significance, adoption of high-end technology in India and pricing pressure remain the key variables. Following ABB stock trading ex-Power-grid, we are excluding Power Grid’s valuation from our TP. Maintain ‘HOLD’ on ABB with a TP of Rs 1,250 (45x June 2021E EPS).

YES Bank jumps 5% as lender gets EoIs from JC Flowers, Silver Point

In a filing to the BSE, the lender said it had received non-binding expressions of interest (EoIs) from several investors including J.C. Flowers & Co, Tilden Park Capital Management, OHA (UK) LLP (part of Oak Hill Advisors), and Silver Point Capital.  READ MORE

Titan Company gains 2% in a weak market


Wockhardt tanks 5% after it sells domestic branded ops to Dr Reddy's Labs

"The Board of Directors have considered and approved the transfer of business comprising (a) 62 products and line extensions along with related business assets and liabilities, contracts, permits, intellectual properties, employees, marketing, sales and distribution of the same in the Domestic Branded Division in India, Nepal, Bhutan, Sri Lanka and Maldives; and (b) manufacturing facility in Baddi, Himachal Pradesh, by way of a slump sale to Dr. Reddy's Laboratories as per the terms and conditions specified in the Business Transfer Agreement," Wockhardt said in an exchange filing. READ MORE

IRCTC jumps 12.5% on strong Q3 nos; Co announces interim dividend of Rs 10

For the quarter under review, IRCTC posted a whopping 178 per cent year-on-year (YoY) jump in its net profit at Rs 206 crore against Rs 74 crore profit in the corresponding quarter of the previous fiscal. Total revenue during the period stood at Rs 735 crore, up 62 per cent against Rs 454 crore in the year-ago period. READ MORE

Confusion over new rules on standardised return metrics for PMS players

The move to provide standardised returns across portfolio managers may be experiencing some teething troubles. Lack of granularity in the regulations has some portfolio management services (PMS) providers scrambling to figure out how they should showcase returns, said three people in the know. READ MORE

MARKET CHECK:: Sensex extends losses


SECTOR WATCH:: Private banks trade lower

COMPANY NAME LATEST CHG(%)
YES BANK 36.55 3.84
LAK. VILAS BANK 19.90 -4.78
SOUTH IND.BANK 10.02 0.40
ICICI BANK 545.30 -0.73
BANDHAN BANK 449.95 -4.16
Click here for the full list

Jewellery business stares at prolonged slowdown, exports down by 9.17%

The festive cheer for the gems and jewellery sector has come to an end in January with exports declining 9.17 per cent to $29.6 billion. Exports in the first 10 months of this fiscal year fell 5.68 per cent to $30.66 billion.
 
With the coronavirus outbreak, prospects for the sector look dim with a key event to promote gems and jewellery in Hong Kong being postponed. READ MORE

BUZZING STOCK:: Torrent Power zooms 7%


IndusInd Bank dips 1% in early trade


Sector Watch :: Realty index trades flat


SBI gains over 2%


Wockhardt slumps 4%

>> Dr Reddy's Laboratories on Wednesday announced an agreement with Wockhardt Ltd. to acquire select divisions of its branded generics business in India, Nepal, Sri Lanka, Bhutan and Maldives for a consideration of Rs 1,850 crore.


Result Impact | Ashok Leyland declines 2%

>> Commercial vehicle major Ashok Leyland has reported an 89 per cent decline in profit before tax at Rs 54.17 crore for the quarter ended December 31, 2019 from Rs 483.57 crore, a year ago.


IRCTC hits 52-week high post Q3 nos

>> Indian Railway Catering & Tourism Corporation (IRCTC) on Wednesday posted a 179.65 per cent year-on-year (YoY) rise in profit at Rs 205.80 crore for the quarter ended December 31.


YES Bank surges 4.7%

>> Bank is in talks with potential investors, including JC Flowers and Silver Point Capital, for raising equity capital. 


Sectoral trends at NSE during Opening trade


Top gainers and losers on S&P BSE Sensex during Opening trade


First Trade | Nifty50 holds 12,200


Opening Bell | Sensex opens flat


Opec cuts 2020 demand forecast by a third amid Coronavirus worries

The cartel reduced projections for demand growth in the first quarter by 440,000 barrels a day, or about a third, in its monthly report. Oil prices sank to a one-year low on Monday as the infection leaves businesses idle and millions quarantined in the world’s biggest crude importer. READ MORE

Morgan Stanley on global economy

Once the coronavirus outbreak peaks, production normalisation and restocking will likely drive the first phase of a growth pickup. The export recovery, which was underway before the outbreak, will likely reassert its trend. Continued policy easing will also provide support. Indeed, in Scenario 2, we think fiscal deficit could widen by an additional 1.0% of GDP in some of the more exposed economies in AxJ. AxJ central banks are also likely to extend the easing cycle. 

The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in New York, New York January 20, 2015. REUTERS


Top gainers and losers on S&P BSE Sensex during Pre-open


Market at Pre-open


Market at Pre-open


ICICI Securities on Siemens

Reduction in overall commodity prices are expected to support margins in the near-to-medium term. Given the recent fall in valuation, we upgrade the stock to BUY with a revised target price of Rs1,757 (previously Rs1,718). Focus on margins, predictable cashflows from digitisation and short-cycle demand is expected to support medium- to long-term growth.

ICICI Securities on BHEL

Structural macro challenges in thermal power sector will impact BHEL’s medium-term growth prospects. Given the execution challenges, we cut our earnings estimates by 5.7% and 13% for FY20E and FY21E, respectively, and maintain HOLD with a revised target price of Rs41 (previously: Rs47).

Rupee opening

Rupee opens weaker at 71.39/$ vs Wednesday's close of 71.33 against the US dollar

COMMENT :: Moody's on aviation sector

The emergence of the coronavirus in the Asia-Pacific region is curtailing aviation traffic and thus impacting airport revenues, particularly as international travel restrictions are imposed to contain the spread of the virus and airlines announce route suspensions to and from mainland China and Hong Kong. Asia-Pacific based airports face more acute risks than global peers because of their greater concentration of Chinese travelers and their proximity to the main regions affected by the virus, a credit negative.

The depth of the impact ultimately depends on the spread and length of disruptions from the outbreak, and its effect – if any – on long-term demand for travel. However, most rated airports generate solid free cash flows and are able to defer their investment programs. This factor provides a buffer to manage a short-term decline in aviation demand

COMMENT :: ICRA on inflation data

The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in the inflation for vegetables. Moreover, the fairly broad-based rise in the core inflation to 4.1% in January 2020, driven by various services, is a cause for concern. Regardless of the level of the CPI inflation, the stance of monetary policy is likely to be retained as accommodative, for as long as the MPC considers the output gap to be negative, in our view. The timing and magnitude of the next rate cut will depend on how quickly inflation appears to be reverting back towards 4%

Jefferies on ABB

ABB’s Power grids division was demerged in December 2019 into ABB Power Products and Systems India Limited (APPSIL), which will be listed in the future. We have only marginally changed our CY20E-21E EPS, by 0-5%, accounting for some impact of lower automation margins, which has mostly been offset by the lower corporate tax rate in the new regime. Our PT of Rs1,600 values the automation business at 50x PE CY21E, vs blended PE of 41x earlier, including the power grid division (40% discount to the seven-year mean). Downside risk: Sharp scale-down in exports by the parent

COMMENT :: Nomura on CPI, IIP data

CPI inflation rose to 7.6% y-o-y in January vs 7.4% in December, as a correction in the unseasonally high vegetable prices was countered by high inflationary pressures in the food ex-vegetable and core basket. Core inflation rose to 4.2% y-o-y in January from 3.8% in December, driven by an uptick in gold and telecom prices, both reflecting supply-side shocks, rather than demand-pull inflation.

Meanwhile, industrial production disappointed at -0.3% y-o-y in December vs 1.8% in November, consistent with our view that growth remains anaemic. We believe inflation has peaked in January and will fall sharply in the coming months, while growth is yet to bottom-out and will slow further to 4.3% y-o-y in Q4 vs 4.5% in Q3. As such, we continue to expect a 25bp repo rate cut in Q2 2020, which could get delivered as early as April

Stocks to watch

Here's a look at the top stocks that may trade actively in today's trading session -
 
YES Bank: The private sector lender will delay the announcement of its December quarter (Q3) results as it is in talks with potential investors, including JC Flowers and Silver Point Capital, for raising equity capital.
 
Bharti Airtel, Vodafone Idea: As per reports, the Department of Telecommunications plans to send out letters to Bharti Airtel and Vodafone Idea, seeking payment of dues, if the industry’s modification plea on the AGR issue is not taken up by the Supreme Court this week. READ MORE

SoftBank reports near-total wipeout at $100-bn Vision Fund

The dire result is likely to deepen concern about founder Masayoshi Son's ability to secure funding for a second Vision Fund, and give more ammunition to activist investor Elliott Management, which has recently emerged as a prominent shareholder. READ MORE

NCDEX files papers for Rs 500-crore IPO, third listing by an exchange

The IPO comprises a fresh issue aggregating up to Rs 100 crore and an offer for sale of up to 1,44,53,774 equities by shareholders, according to the draft red herring prospectus (DRHP).
 
The issue is expected to raise about Rs 500 crore, including fresh offering, merchant banking sources said. After BSE and MCX, this would be the third listing by an exchange. READ MORE

HUL braves slowdown, premium valuation to sustain on Street's thumbs up

Hindustan Unilever (HUL) seems to have braved the slowdown storm that has impacted some consumption stocks. The HUL stock, which hit its all-time high of Rs 2,271 on Wednesday, has gained over 11 per cent since January-end, compared to a sub-1 per cent rise in the Nifty FMCG index. READ MORE

Today's picks: YES Bank to Eicher Motors, hot stocks to watch on Thursday

YES Bank
 
Current: Rs 35.2
 
Target: Rs 33.5
 
Keep a stop at 36 and go short. Add to the position between 33.75-34. Book profits at 33.5. READ MORE

Choose instruments with a higher lock-in period to get better returns

Last week, the country’s largest bank – State Bank of India (SBI) – cut the marginal cost of lending rate by five basis points, which is good news for borrowers. But it slashed deposit rates by 10-50 basis points. READ MORE

Trading ideas by Prabhudas Lilladher: Buy Praj Industries, Godrej Consumer

BUY GODREJ CONSUMER | CMP: Rs 642.15 | TARGET: Rs 700-710 | STOP LOSS: Rs 610
 
The stock has witnessed a decent erosion recently from the peak of 765 levels and has showed signs of bottoming out at near 615 levels with a bounce back. The RSI has indicated a trend reversal from the highly oversold zone to signal a buy and with the chart looking attractive, we suggest to buy this stock for an upside target of 700-710 keeping the stop loss of 610. READ MORE
 

Nifty strategy by CapitalVia Global: Buy on dips with stop-loss at 12,100

Market traded higher on Wednesday; Nifty managed to hold 12,200
 
Market opened with gap-up on Wednesday and managed to trade higher due to strong global cues along with some ease over coronavirus. Nifty traded in a close range and closed at 12,201.20, gaining 93.30 points. FMCG, metal and private bank stocks traded with positive sentiments throughout the day whereas PSU banks and pharma stocks witnessed some pressure. Nifty bank closed at 31,492.90 adding 349.76 points from the previous day’s closing. READ MORE

Bulk deals on BSE as on Wednesday

Bulk deals on NSE as on Wednesday

FII/FPI & DII trading activity on NSE, BSE and MSEI


Rupee Check

Source: Bloomberg


Oil Check

>> OPEC lowered its demand forecast to 0.99 million barrels per day (BPD) in 2020, citing China’s coronavirus outbreak as the “major factor” behind its decision. That’s down by 0.23 million BPD from the previous month’s estimate, CNBC reported. 

>> At 8:00 am, Brent Crude Futures were at $55.98 per barrel-mark, up 0.34 per cent.

SGX Nifty

>> At 8:00 am, the Singaporean Exchange for Nifty Futures were at 12,221.50 level, down 7 points or 0.06 per cent.

Asian Market Check

Source: Reuters


US Market Check

Source: Reuters


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